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US Green Card: The easiest but expensive path for Indians
US Green Card: For aspiring Indian immigrants, EB-5 program has become the only surest path to secure the Green Card. Wealthy Indians are jumping lines to apply for EB-5 visa program.
For aspiring Indian immigrants, EB-5 program has become the only surest path to secure the Green Card. Wealthy Indians are jumping lines to apply for EB-5 visa program.
The tightened process for H-1B visa and attempts to curb work authorization of H-4 has nearly killed the American Dream for Indians. However, aspiring and rich Indians have discovered a quick yet expensive way to obtain the American permanent residency. AVG America Investments recently gave a presentation in a plush New Delhi hotel.
The US firm, AVG American Investment is one of the largest Indian-American donors to Donald Trump’s presidential campaign. The firm is trying to woo the aspiring Indian immigrants to explore the EB-5 visa route. The investor-visa program requires the applicant to invest a minimum of $500,000 and create 10 American jobs in high unemployment area.
According to the firm, EB-5 visa program can help the applicants in securing a green card in about 18 to 24 months. The investment requirement for the low economic areas is $500,000 and in rest of the US, the same is $1 million.
Vikram Kumar, the head of AVG America said, “The Indian market is quite hot right now. I travel to India every month. I see a five times increase in applications.” The Indian investors are willing to put their money to get the permanent residency in the United States.
Most wealthy families are exploring the EB-5 route only for their children’s future. The American education costs $250,000 for these wealthy Indians. Shelling out about twice of that amount is no big deal for them. Gajanan Mante said, “My daughter's dream is to study at Stanford University, and my son wants to pursue his master's in computer science. And they would want to work in the U.S. after that.”
Vikas Tandon, CEO of EB5 BRICS said, “Five years ago, there were less than 50 applications out of India. Now there are more than 500 a year because the traditional route to a green card can take 10 to 12 years.”
The EB-5 visa program has been in existence for more than 30 years. The program continues to be the quickest path to legal residency in the United States. The applicant’s source of funds and investment has to be legitimate. China is much ahead of India to obtain Green Card through EB-5 program. Each country is allowed to consume 7% of 10,000 visas, Chinese applicants usually contribute to the majority each year.
The advisors of EB-5 are recommending Indians to explore the EB-5 route to get Green Card. The major reason is the price of the program. Aaron Schock, former GOP Congressman Illinois said, “At the moment, the EB-5 price is the same as it was 30 years ago. There are not many things you can buy today at 30-year-old prices.”
Source : techgig
